Wednesday, October 01, 2008

Ouch! Pain in Loudoun County, Virginia


Here is an interesting listing in Loudoun County, VA.

Bought slightly less than two years ago for $867,143.

For sale now for $629,900.

Loss if they actually get their asking price: $237,243.
Posted by at 8:10 AM

4 comments:

  1. AnonymousOctober 01, 2008 11:06 AM

    The place should be converted into a rooming house for low-income people. In fact, entire neighborhoods of homes like these should be converted into low-income housing.

    Shuttle bus service should then be provided to those neighborhoods in order to get the residents to their jobs at nearby stripmalls and shopping centers.

    It will be a major improvement in the quality of life of low-income people, and it will be a productive use of otherwise ill-conceived housing arrangements.

    ReplyDelete
  2. AnonymousOctober 01, 2008 11:45 AM

    "entire neighborhoods of homes like these should be converted into low-income housing."

    "get the residents to their jobs at nearby stripmalls and shopping centers."

    -----

    Um, then who is going to be shopping there?

    ReplyDelete
  3. AnonymousOctober 01, 2008 12:28 PM

    Population density will rise in exurban clusters of large homes on small lots, as the homes are subdivided to house multiple families under one roof.

    With this increased density, markets for cheap goods are viable.

    As a teen, I worked in a shopping mall earning minimum wage. Yes, I bought my lunches at restaurants in the same shopping mall, as well as my clothing, shoes, gifts for relatives, etc.

    The difference then was that gasoline cost less than $1 per gallon.

    ReplyDelete
  4. AnonymousOctober 01, 2008 1:56 PM

    "The place should be converted into a rooming house for low-income people. In fact, entire neighborhoods of homes like these should be converted into low-income housing."

    Probably not too far from reality Frank. Years ago, when Alexandria was the urban fringe, the same thing happened. All those big, gorgeous row houses built for sea captains and merchants were turned into multi family tenements. It is only now, 150 years later, that there is enough wealth to support returning to their original use as single family residences.

    We are seeing the same thing now in the exurbs - wealth (or more accurately in this case, HELOCS) are disappearing. These places are no longer vialbe as SFR. Instead, they support far more income if divided into multi family tenements.

    Oh it will take years to get there - NIMBY citizen groups will be outraged at the changes, but once it starts, it is hard to stop. It will happen - its only a matter of time.

    So congratulations all you McMansion owners out in the exurbs. You now stand on the precape of a monumental change in the making. Hopefully, your transformation to and back from tenements wont take 150 years - but watch closely - somethign tells me you are not going to like the way things are going.

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